3:55pm (EST)
We have a Profit Alert this afternoon so let’s get check the tape.
Profit Alert!
Snap (SNAP, $8.48, up $0.14)
SNAP October 9 puts (SNAP231020P00009000, $0.75, down $0.15)
Entry Price: $0.65 (9/19/2023)
Exit Target: $1.30
Return: 15%
Stop Target: 75 cents (Stop Limit)
Action: The Stop Limit at 75 cents has tripped today with the puts trading to a low of 68 cents. We will keep shares on our Watch List for another possible reentry point.